Janus Forty Fund (JACTX)
High-Conviction Large-Cap Growth Equities

SHARE CLASS

FUND FACTS (JACTX)

Inception Date5/1/1997
NAV (As of 5/1/15 )$32.20
Total Net Assets (As of 4/30/15)$2.32B
Annual Expense Ratio
(As of fiscal year end 9/30/14)
GROSS 0.77%
NET 0.77%

Performance (As of 3/31/15)
1 Year20.21%
3 Year16.89%
5 Year12.70%
10 Year10.10%
Morningstar (As of 3/31/15)
CategoryLarge Growth
Equity
Style Box

Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold. For the most recent month-end performance click here.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/16.

Quarterly Commentary - Q1 2015

EXECUTIVE SUMMARY

U.S. equities climbed higher during the first quarter, driven by signs of an improving domestic economy, a strong U.S. consumer and a healthy merger and acquisition environment.

The Fund outperformed its benchmark during the quarter. Some of our biotech and pharmaceutical holdings were top contributors to performance.

We continue to be encouraged by economic expansion taking place in the U.S.

FUND MANAGEMENT

Doug Rao

Fund Manager since 2013
Industry since 1994